Regents of The University of California Purchases New Holdings in BridgeBio Oncology Therapeutics, Inc $BBOT

Regents of The University of California purchased a new position in shares of BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,509,446 shares of the company’s stock, valued at approximately $10,289,000. BridgeBio Oncology Therapeutics accounts for about 0.2% of Regents of The University of California’s investment portfolio, making the stock its 8th largest position.

Other hedge funds also recently made changes to their positions in the company. Opaleye Management Inc. grew its stake in shares of BridgeBio Oncology Therapeutics by 1,213.8% during the 2nd quarter. Opaleye Management Inc. now owns 700,000 shares of the company’s stock valued at $5,334,000 after buying an additional 646,718 shares during the period. Granahan Investment Management LLC acquired a new stake in shares of BridgeBio Oncology Therapeutics during the 1st quarter worth $2,068,000. Renaissance Technologies LLC increased its holdings in shares of BridgeBio Oncology Therapeutics by 37.1% during the 1st quarter. Renaissance Technologies LLC now owns 101,900 shares of the company’s stock worth $912,000 after buying an additional 27,600 shares during the last quarter. Tidal Investments LLC raised its position in shares of BridgeBio Oncology Therapeutics by 13.6% in the 2nd quarter. Tidal Investments LLC now owns 93,339 shares of the company’s stock worth $711,000 after buying an additional 11,167 shares during the period. Finally, Tema ETFs LLC raised its position in shares of BridgeBio Oncology Therapeutics by 13.6% in the 2nd quarter. Tema ETFs LLC now owns 93,339 shares of the company’s stock worth $711,000 after buying an additional 11,167 shares during the period. Institutional investors and hedge funds own 54.89% of the company’s stock.

BridgeBio Oncology Therapeutics Trading Up 1.9%

NASDAQ:BBOT opened at $2.69 on Wednesday. The firm has a market capitalization of $215.67 million, a price-to-earnings ratio of -0.97 and a beta of 0.65. The firm’s fifty day simple moving average is $5.39 and its 200 day simple moving average is $8.22. BridgeBio Oncology Therapeutics, Inc has a twelve month low of $2.51 and a twelve month high of $14.87.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($705.20) earnings per share for the quarter. On average, analysts predict that BridgeBio Oncology Therapeutics, Inc will post -2.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wedbush reiterated an “outperform” rating and issued a $25.00 target price on shares of BridgeBio Oncology Therapeutics in a report on Wednesday, September 9th. Weiss Ratings lowered BridgeBio Oncology Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 9th. Raymond James Financial dropped their price target on BridgeBio Oncology Therapeutics from $24.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, September 9th. Morgan Stanley cut their price objective on BridgeBio Oncology Therapeutics to $13.00 and set an “overweight” rating on the stock in a report on Wednesday, October 21st. Finally, Wall Street Zen raised BridgeBio Oncology Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 17th. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.11.

About BridgeBio Oncology Therapeutics

BridgeBio Oncology Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for patients with genetically driven cancers. The company is part of the broader BridgeBio platform, which supports the development of therapies for diseases linked to well-defined biological targets.

Its oncology programs are centered on small-molecule therapies intended to address cancer-causing genetic alterations, including targets that have historically been difficult to treat.